Wagering requirements are the compulsory conditions imposed by online casinos on their offered bonuses. Nowadays, real money casinos offer lucrative offers and bonuses to players to attract them to their gaming websites and persuade them to create their casino accounts.
The bonuses come available in the form of free spins and cash bonuses; however, the winnings generated by the bonus amount cannot be withdrawn instantly. The players will need to complete the wagering requirements before withdrawing the winnings.
But, what are wagering requirements? How to wager a bonus? How to successfully withdraw your winnings? If you are also looking for answers to these questions, just read on.
If you have decided to claim the bonuses such as a no deposit bonus, welcome bonus, or reload bonus at an online casino where you have created the account, you will be offered extra money by the casino to play the games. These bonuses often come with wagering requirements or, in other words, playthrough requirements that you need to complete before successfully withdrawing the winnings.
A wagering requirement is defined as the number of times you will be required to wager the bonus amount before it converts into real money and you withdraw it from your casino account.
Let’s understand the concept of wagering requirements. For example, if an online casino offers a bonus of 100% up to $300 and 60 free spins. You made your deposit of $100 and you receive an extra $100, making $200 in total. However, the casino has included wagering requirements of X20 on the bonus amount. This signifies that you will need to use your $100 bonus amount to place bets of $2,000 in total (20X100).
Some online casinos offer wagering requirements both on the bonus money and the deposited money. So, in such a condition, the player will need to use a $200 bonus + deposited amount to place bets of $4,000 in total (20X200). This clearly shows how a small change in the wagering requirement has changed the calculations. Therefore, you must carefully check if the wagering requirements apply to the bonus amount or both the bonus and your deposited amount.
It is worth noting that online casinos might use a different name for wagering requirements. They are also referred to as playthrough requirements or rollover requirements by different online casinos. Nevertheless, all these terms mean the same and are always symbolized by the letter ‘X’ followed by a number such as X20 or X50.
The main reason for online casinos to offer bonuses is to attract potential players to their websites and retain the ones who are already playing. Online casinos are making money and they offer bonuses just as incentives to players whereas the casinos also benefit a lot. The bonuses are favorable for players as well as it allows them to play exciting casino games for a long time.
Online casinos add wagering requirements to their bonuses as a means to keep their money protected from players who want to cash out the bonus immediately. With this imposed condition, the player will wager the bonus amount before withdrawing their winnings from their casino account.
Apart from knowing about the wagering requirements and why it is applied to the bonus amount, you must also familiarize yourself with other terms.
At certain online casinos, when you play with your deposited money and win money, you can choose to lose the bonus amount and withdraw your winnings generated from your deposited amount without completing the wagering requirements.
When any game contributes 100% to wagering, this signifies that a bet of $1 will be regarded as $1 towards the wagering. But, in the case of a 50% contribution, the bet of $1 will be regarded as $0.50.
Online gaming platforms create their own terms for their offered casino bonuses so you must be aware of the conditions set for the bonus you are looking to claim at the online casinos. Also, you must understand the terms for making better use of the bonuses.
When searching for an online casino with bonuses, make sure that you check the wagering requirements of the bonuses. This will help you complete the wagering requirements easily and withdraw the winnings without any delay.
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